Allianz Asset Management GmbH Has $65.83 Million Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

Allianz Asset Management GmbH reduced its stake in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 25.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 389,055 shares of the medical research company's stock after selling 131,556 shares during the quarter. Allianz Asset Management GmbH owned about 0.35% of Quest Diagnostics worth $65,828,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. BankPlus Wealth Management LLC grew its position in shares of Quest Diagnostics by 2.5% during the 1st quarter. BankPlus Wealth Management LLC now owns 2,410 shares of the medical research company's stock worth $408,000 after buying an additional 59 shares during the period. Cullen Frost Bankers Inc. grew its position in shares of Quest Diagnostics by 5.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,059 shares of the medical research company's stock valued at $179,000 after purchasing an additional 59 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in shares of Quest Diagnostics by 1.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,843 shares of the medical research company's stock valued at $580,000 after purchasing an additional 60 shares during the period. Linden Thomas Advisory Services LLC boosted its position in Quest Diagnostics by 0.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 11,513 shares of the medical research company's stock worth $1,948,000 after acquiring an additional 63 shares during the last quarter. Finally, Bessemer Group Inc. boosted its position in Quest Diagnostics by 0.3% during the 4th quarter. Bessemer Group Inc. now owns 20,811 shares of the medical research company's stock worth $3,140,000 after acquiring an additional 65 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. UBS Group reduced their price target on Quest Diagnostics from $176.00 to $175.00 and set a "neutral" rating for the company in a research report on Friday, July 18th. Wall Street Zen cut Quest Diagnostics from a "buy" rating to a "hold" rating in a research note on Saturday, June 7th. Redburn Atlantic initiated coverage on Quest Diagnostics in a research note on Wednesday, April 2nd. They set a "buy" rating and a $195.00 price objective on the stock. William Blair restated an "outperform" rating on shares of Quest Diagnostics in a research note on Wednesday. Finally, Mizuho increased their price target on Quest Diagnostics from $178.00 to $189.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $185.69.

Quest Diagnostics Stock Performance

DGX stock traded down $4.28 during trading hours on Friday, hitting $167.63. 453,947 shares of the stock were exchanged, compared to its average volume of 1,193,918. The company has a current ratio of 1.09, a quick ratio of 1.31 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $18.71 billion, a P/E ratio of 20.08, a P/E/G ratio of 2.37 and a beta of 0.49. The company has a 50-day simple moving average of $174.70 and a two-hundred day simple moving average of $169.51. Quest Diagnostics Incorporated has a 12 month low of $140.71 and a 12 month high of $182.38.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The medical research company reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.05. The firm had revenue of $2.76 billion for the quarter, compared to analysts' expectations of $2.73 billion. Quest Diagnostics had a return on equity of 15.24% and a net margin of 9.01%. The company's quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.35 EPS. On average, analysts forecast that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, July 7th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, July 7th. Quest Diagnostics's dividend payout ratio (DPR) is currently 40.46%.

Insider Activity

In other news, SVP Mark E. Delaney sold 874 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $175.72, for a total transaction of $153,579.28. Following the sale, the senior vice president directly owned 8,372 shares of the company's stock, valued at approximately $1,471,127.84. This represents a 9.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.16% of the company's stock.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.